Hugo Boss Quarterly Earnings Miss Forecasts on Wholesale

Hugo Boss AG (BOSS), the German luxury clothing-maker, reported earnings that missed analysts estimates as a difficult market environment in China and a weakening wholesale business offset higher retail sales.

Third-quarter earnings before interest, taxes, depreciation, amortization and one-time items rose 5 percent to 173.1 million euros ($237.3 million), Metzingen-based Hugo Boss said in a statement today. The average estimate of 11 analysts in a Bloomberg survey was 174.1 million euros.

“Hugo Boss has systematically addressed the difficult market environment,” Chief Executive Officer Claus Dietrich Lahrs said in the statement. “Demand in our own stores picked up noticeably in the third quarter compared to the first half year. We are therefore anticipating strong growth in sales and earnings in the fourth quarter.” Read more.